Hedge funder John Paulson picks up $3M Olympic Tower pad

New York /
Nov.November 19, 2010 02:41 PM

John Paulson and the Olympic Tower

Hedge fund manager John Paulson, whose lucrative but infamous bets against the subprime mortgage market in 2007 were at the center of this year’s Securities and Exchange Commission lawsuit against Goldman Sachs, just dropped $2.85 million on a two-bedroom spread at 641 Fifth Avenue‘s Olympic Tower.

The condominium, which sits opposite Rockefeller Center at 51st Street, is decidedly more modest than the 28,000-square-foot mansion Paulson owns on the Upper East Side, but it’s unclear whether he actually plans to live there. His spokesperson declined to comment, as did listing agent Adam Soffer of Prudential Douglas Elliman. The deal-making Paulson & Co. head managed to bargain down the last asking price on the 1,797-square-foot, 26th-floor apartment from $3.15 million, according to records from Streeteasy.com.

On the deed filed with the city today, Paulson’s address is listed as the 9 East 86th Street home, which he bought for $14.7 million in 2004 and which once housed the Town Club, a now-defunct private social club.


Related Articles

arrow_forward_ios
John Giannone and Jac Credaroli (Credit: iStock)
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Jacob Sudhoff and Scott Durkin (Credit: Sudhoff Companies, Emily Assiran, iStock)
Douglas Elliman is coming to Texas
Douglas Elliman is coming to Texas
Douglas Elliman chairman Howard Lorber (Credit: Getty Images and iStock)
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Here are the homes that billionaire Paulsons will spar over in divorce
Here are the homes that billionaire Paulsons will spar over in divorce
Here are the homes that billionaire Paulsons will spar over in divorce
Cash to burn: How brokerages are spending capital in a record year
Cash to burn: How brokerages are spending capital in a record year
Cash to burn: How brokerages are spending capital in a record year
Richard Steinberg (Courtesy of Compass)
Richard Steinberg jumps from Douglas Elliman to Compass
Richard Steinberg jumps from Douglas Elliman to Compass
Goldman Sachs CEO David Solomon and 1 Flatbush Avenue in Brooklyn (Getty, Hillwest, iStock)
Oh, honey: Goldman Sachs to add beehives to real estate assets across U.S.
Oh, honey: Goldman Sachs to add beehives to real estate assets across U.S.
Josh Flagg (Getty)
“Million Dollar Listing” star Josh Flagg jumps to Elliman
“Million Dollar Listing” star Josh Flagg jumps to Elliman
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...